Barclays Reduced Enquest (ENQ) to Underweight


Barclays cut shares of Enquest (LON:ENQ) to an underweight rating in a report published on Thursday. They currently have GBX 16 ($0.21) price objective on the oil and gas development company’s stock, down from their previous price objective of GBX 45 ($0.59).


A number of other research firms have also commented on ENQ. Jefferies Financial Group lowered Enquest to an underperform rating and set a GBX 25 ($0.33) price objective on the stock. in a research note on Monday, October 22nd. JPMorgan Chase & Co. reduced their price objective on Enquest from GBX 44 ($0.57) to GBX 37 ($0.48) and set a neutral rating on the stock in a research note on Tuesday, November 20th. Finally, Royal Bank of Canada lowered Enquest to an underperform rating and reduced their price objective for the stock from GBX 55 ($0.72) to GBX 15 ($0.20) in a research note on Monday, January 7th. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The stock has a consensus rating of Hold and a consensus target price of GBX 24.60 ($0.32).

Shares of ENQ stock opened at GBX 20.50 ($0.27) on Thursday. Enquest has a one year low of GBX 22.50 ($0.29) and a one year high of GBX 47.25 ($0.62).

In other Enquest news, insider Amjad Bseisu acquired 1,259,493 shares of Enquest stock in a transaction on Friday, November 23rd. The shares were bought at an average price of GBX 23 ($0.30) per share, with a total value of £289,683.39 ($378,522.66).

About Enquest

EnQuest PLC, an oil and gas development and production company, together with its subsidiaries, explores for, extracts, and produces hydrocarbons in the United Kingdom Continental Shelf and Malaysia. The company operates through North Sea and Malaysia segments. It primarily holds interests in the Thistle/Deveron, Heather/Broom, the Dons area, Magnus, the Greater Kittiwake Area, Scolty/Crathes, and Alma/Galia; and in the Kraken development, and a non-operated interest in the Alba producing oil field, as well as the PM8/Seligi production sharing contract and the Tanjong Baram risk services contract in Malaysia.

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